Buying a semi-truck is a big and exciting decision in your trucking career. Before you get started, it's crucial to understand the financial commitment involved in purchasing a semi as well as the specific needs you require from your new truck. With this guide, we will help you map out what to consider in your truck-buying journey. How Much Does it Cost to Buy a Semi-Truck? Purchasing a semi-truck is a significant investment for anyone in the trucking industry. If you're looking to buy new, prices typically range from $175,000 to $250,000. Factors influencing the cost include the truck's make, model, and features. These new trucks come with the advantage of factory warranties and a reduced likelihood of maintenance issues. In contrast, buying a pre-owned semi-truck can be considerably more affordable, with price tags around $50,000 to $75,000. This is a stark difference from the heftier purchase price of a new semi. It's worth noting that used semi-trucks also tend to depreciate less rapidly. When choosing between a new and used truck, keep in mind that newer models may come equipped with the latest technologies, like assisted driving tools, which can enhance safety and efficiency. Furthermore, they offer improved fuel economy, which can offset some of the upfront costs over time. Whether you opt for a new or used semi-truck, it's essential to consider the ongoing operational costs, such as maintenance. Remember to factor in these recurring expenses when determining the total investment for your semi-truck purchase. How to Determine Your Trucking Needs Pinpointing your specific trucking needs is crucial for selecting the right semi-truck. Start by assessing the type of hauling you'll undertake. Will your routes be local, or are you planning long-distance, cross-country hauls? Perhaps you're considering hotshot trucking for urgent deliveries. Next, determine the cabin type fitted for your work. Day cabs suit shorter routes, while trucks with sleepers are necessary for long-haul trips. Transmission type is also key – weigh the pros and cons of manual versus automated manual transmissions based on your comfort and experience. Critical to your decision-making is understanding the Gross Vehicle Weight Rating (GVWR). It's essential to choose a truck that can handle your typical cargo load without exceeding legal weight limits. Matching your truck to the cargo you'll carry ensures you don't overcommit or underutilize the truck's capacity. Here's a quick checklist to sum up: Route Type (Local vs. Long-Distance) Cabin Type (Day Cab vs. Sleeper) Transmission Type (Manual vs. Automatic) Gross Vehicle Weight Rating (GVWR) Cargo Type Compatibility Careful consideration of these factors will guide you toward the perfect truck for your business operations. What Should I Look for When Buying a Semi-Truck? When venturing into buying a semi-truck, begin by establishing a clear budget, factoring in not just the purchase price but also taxes, fees, and the potential ongoing costs like maintenance and fuel efficiency. Seek out a reputable dealer known for dealing in high-quality commercial trucks. Their reputation in the industry can be a testament to the reliability of the vehicles they offer. Here’s a quick checklist to consider: Dealer Reputation: Choose a trusted dealer with positive industry feedback. Budget Consideration: Account for all purchase and operational expenses. Close Inspection: Opt for a truck with an unblemished history report. Ensure that the history report of the semi-truck is transparent, indicating no past accidents or significant damages. It's also wise to review the truck’s maintenance records to understand the frequency and quality of preventative maintenance it has undergone. This documentation will help to paint a picture of any potential maintenance issues and guide future routine maintenance schedules. A sound investment is not just about the upfront cost, but also about minimizing future operating costs through a reliable, well-maintained truck. Choosing the right semi-truck is a significant decision that requires diligence and attention to detail. By addressing these key elements, you will be well on your way to finding the perfect truck to serve your business needs. What Do I Need to Buy a Semi-Truck? When considering the purchase of a semi-truck, whether for expanding a fleet or starting out in the trucking industry, there are several key requirements and considerations to be aware of. To ensure a smooth transaction, here's what you need to buy a semi-truck: Commercial Driver’s License (CDL) - A valid Class A CDL is essential. Reputable dealers will verify that truck drivers have the appropriate licensing before completing a sale. Down Payment - If financing, you'll need a down payment, usually ranging from 1% to 40%. The exact amount can be influenced by your credit score and the financing terms offered. Credit History - Lenders will examine your credit history as part of the financing process. This review helps determine your interest rate and eligibility. Financial Documentation - Be prepared to provide proof of financial capability. This is crucial whether you’re buying the truck outright or financing it. Financing a Semi-Truck: Quick Reference Buying a semi-truck is a major decision that requires careful consideration and preparation. From having the necessary licensing to understanding your financial capabilities, being fully prepared will greatly increase your chances of finding the perfect truck for your business needs. Whether you choose to pay in cash or finance the purchase, remember to thoroughly inspect the truck and ensure it aligns with your specific requirements. By following these guidelines and conducting thorough research, you can make a well-informed decision and set yourself up for success in the world of trucking.

What is IFTA? The International Fuel Tax Agreement (IFTA) is a pact between the lower 48 states and the ten Canadian provinces that requires all interstate motor carriers to report fuel taxes. The agreement doesn’t affect Hawaii, Alaska, or the three northern Canadian territories. IFTA was created to replace the old fuel tax system, in which trucks were required to have a separate decal for every state they operated in. The current IFTA reporting system simplifies the hassle of reporting fuel tax for trucking companies (including owner-operators) who operate across IFTA jurisdictions by reducing paperwork and minimizing the compliance requirements. Keep in mind that IFTA is not an additional tax. IFTA was put into place to redistribute the tax to the states where the fuel is actually being used, not where it is purchased. This means no matter where you buy the fuel, you're paying the fuel tax in whatever states you're driving in. What motor vehicles are required to follow IFTA? IFTA is required for any motor vehicle with the following specifications: Those with two axles and a gross vehicle weight rating or registered gross vehicle weight above 26,000 pounds Those of any weight that has three or more axles Any combination of vehicles with a total gross vehicle weight or weight rating above 26,000 pounds How does IFTA work? Every owner of a qualified motor vehicle must submit an IFTA application, or have their bookkeeper or accountant do so on their behalf. After you submit your application, you will receive an IFTA license as well as an IFTA decal for each qualified vehicle you operate. Whenever fuel is purchased, the amount is logged into the truck owner’s IFTA account. At the end of each quarter, you must submit an IFTA report that lists the miles driven and the gallons purchased. These reports will determine either the amount of tax still owed or the refund you are due. The IFTA office in the trucking company’s home state will issue your refund or debt. Quarterly reports must also be filed as long as the vehicle is operational. This must be done even if the truck isn’t used for commercial purposes for one or more quarters. IFTA decals expire every year on the 31st of December. Carriers have until the end of February of the next year to re-register. What are the IFTA tax rates? The IFTA tax rates vary by the state or province you are purchasing fuel. The IFTA tax rates change each quarter. Click here for the most updated fuel tax rate chart. When must the IFTA reporting be filed? For January through March, the due date is April 30th For April through June, the due date is July 31st For July through September, the due date is October 31st For October through December, the due date is January 31st How do I file an IFTA report? Electronically: Your return is considered received on the date it is submitted. By Mail: Your return is considered received by the postmark date on the envelope. Walk-in: Your return is considered received on the date it is delivered to the office. What happens if I fail to file or pay a quarterly return? Failing to file a quarterly return within 30 days of the due date will result in your license being suspended and a Jeopardy assessment being applied. An IRS Jeopardy assessment is a significant escalation of a tax problem that is made when the IRS believes it’s at risk of losing money. If you file a quarterly return but fail to make a payment on the return - including late fees, interest, and penalties - within 90 days of the due date, your license will be repealed and you will be given a Jeopardy assessment. Your license won't be valid until you have paid all taxes, penalties, and interest. Once a Jeopardy has been assessed, you will have 60 days to file and pay the late return. After 60 days you will be responsible for paying the full amount of the Jeopardy. Once your account has been brought current, you will need to apply to have your license reinstated. How does understanding IFTA help you save on fuel? When you're trying to decide between buying fuel in one state compared to another state, you need to subtract the state fuel tax, from the retail price you pay for the fuel, in order to get the net price. This is because, with the IFTA policy that is currently in place, you are being taxed on which state the fuel is being used in, not where it's purchased. Because of this, fuel taxes are out of the equation, because they are being paid anyway. This means you might as well pay for fuel in the state where the net price is going to be the lowest, not the retail price. Looking at the net price of fuel will give you an accurate comparison between each state. This means that even if a state has a cheaper retail price of fuel, it may be more expensive to buy fuel there in the long run if the net price is higher. As a simple example, at the border of Colorado and Nebraska, you may see the retail fuel cost in Colorado at $3.00 and the retail cost of fuel in Nebraska at $3.02. Judging by the retail cost, you would fuel up in Colorado. However, when you look at the net price of fuel before fuel tax it would actually be Colorado $2.79 ($.205 fuel tax) and Nebraska $2.74 ($.277 fuel tax). Considering that you will be paying the Nebraska fuel tax anyway when you drive across Nebraska, it would be cheaper to fuel up in Nebraska. When thinking about this, the most important thing to keep in mind is, that no matter what, you are paying the fuel taxes in the state you're driving in. This will hopefully help simplify this concept. If you have any questions, please give us a call at 888-640-4829.

In the summer, we’re bombarded with articles, ads, news stories, and social media posts encouraging us to wear sunscreen whenever we’re outdoors. But what you may not realize is that sunscreen should not only be worn when you’re out of the house but also when you plan to be in your truck or car for a long period of time. Most vehicles typically include laminated windshields that filter out UV rays. But rear and side windows are made of non-laminated glass that only filter UVB rays and not the harmful skin-penetrating UVA rays. Aside from the infamous ‘Trucker’s Tan’, driving without sunscreen can also lead to premature aging and even skin cancer. Ultra-Violet Radiation UV radiation is part of the light spectrum that reaches the Earth from the sun. Its wavelengths are invisible to the naked eye. These wavelengths are classified as UVA, UVB, or UVC. UVA and UVB rays reach Earth, while most UVC rays are absorbed by the ozone layer. Both UVA and UVB play an important role in causing premature skin aging, eye damage (including cataracts), and skin cancers. They also suppress the immune system, reducing your ability to fight off disease. UVB Rays UVB rays are the main cause of skin reddening and sunburn and tend to damage the skin's outer layers. The most significant amount of UVB hits the U.S. between 10 a.m. and 4 p.m. from April to October. However, UVB rays do not significantly penetrate glass, so these aren’t the ones you really need to worry about when inside your truck. UVA Rays Throughout our lives, we are exposed to large amounts of UVA light. They are less intense than UVB rays, but up to 50 times more prevalent. They are also present during all daylight hours, throughout the entire year, and can pass through clouds and glass. UVA rays penetrate skin more deeply than UVB rays and play a major part in skin aging and wrinkling. UVA also damages skin cells in the basal layer of the epidermis where most skin cancers occur. How This Affects Truckers A recent study published in The Journal of the American Academy of Dermatology found that people who had spent the most time driving each week were more likely to develop skin cancers on the left sides of their bodies and faces, the side exposed to more sun while driving. In patients with malignant melanoma, the deadliest form of skin cancer, 74 percent of the tumors were found on the left side, compared with only 26 percent on the right. To protect yourself, apply sunscreen to any exposed areas (like your hands, forearms, and face) every time you get into your truck for a long ride, regardless of the season. Make sure to use a broad spectrum sunscreen that blocks both UVA and UVB rays with an SPF rating of 50 or higher. You may also want to purchase a sun shirt, which will block most UV rays better than a plain t-shirt. Following these steps will help you and your skin stay healthy for the long haul.

If you’re a small business owner, it’s easy to see why you sometimes feel a bit overwhelmed. You’re responsible for multiple functions on any given day. It’s no wonder that keeping things straight can be challenging. So how can you increase your productivity and make your life a little easier? Here are eight tried and true time management and productivity tips for small business owners: Don’t multitask Yes, you wear tons of hats but don’t try to wear them all at the same time. If you’re on task, stay on that task until it’s complete and finished. The quality of your work suffers when you don’t devote your full attention to the task at hand. Don’t procrastinate It’s a simple win to check off all the easy tasks on your daily to-do list but don’t put off those difficult or daunting tasks because they’re unpleasant. Tackle them head-on and complete it. It will make you feel good, accomplished, and relieved to get it off your list and get it done! Plan your work; work your plan Create a list of tasks you need to accomplish each morning. Make the list realistic. Prioritize those tasks and then start with number one and work through your list. Sounds simple enough, but all too often distractions get in the way and before you know it you’re multitasking (see point one). Check email only after completing a task It’s very easy to get distracted if you check your email after every email notification alert. While it may be hard to do at first, try ignoring those alerts until you’ve finished the task at hand, and only then review your inbox. Use a calendar Google and Outlook both have integrated calendar features that allow you to plan your schedule. Put placeholders in for the tasks you need to accomplish. These calendars have mobile apps as well, allowing you to access your calendar on the go. Plan for contingencies You need to build time into your schedule for the unexpected. Being late is not a healthy habit. Plus, getting to your meeting a little early allows you to take a deep breath and focus on the meeting outcome. That extra little bit of prep time can be valuable. Unless it's business-related, social media fun comes after work It’s easy to get distracted on social media today, with Twitter and Facebook streams sharing all that much-needed information (insert sarcasm). Sure it’s good to catch up on family and friend happenings, but doing it after work will keep you focused on more important matters. Take a lunch and breaks When you’re on a roll, it’s easy to simply work through lunch or eat at your desk. Unless you’re on a deadline, don’t do it. Get up and get out of the office for lunch. Take a walk or short drive to clear your head. While this may seem counterintuitive, these breaks will help you refocus and increase your energy levels. As a small business owner, your productivity and time management are paramount. We hope these eight tips help you stay focused and manage your all-important workday. You might also find these other recent posts helpful in your role as well, so be sure to check them out. Image 1 source: https://www.flickr.com/photos/michaelloudon/ Image 2 source: https://www.flickr.com/photos/klash/

Oftentimes, when there is a boom in freight rates, we see a counter-intuitive pattern develop among the Owner Operator population. Generally speaking, Independent Contractors tend to run fewer miles, while rates are high. Below are a few of the trends and uncertainties we see going on today that make the duration of this high freight rate season specifically hard to forecast. This year’s unpredictability is why, as a business owner, you should consider running hard now while freight rates are high to position yourself successfully & give you more financial flexibility in case freight rates change suddenly. To the outside eye, that may seem puzzling “Why not run harder when rates are high?” However, to many drivers, this is an opportunity to take advantage of extra time off by running fewer miles and making the same or better income than during average or down rate periods. After all, this is a demanding job, both physically and mentally. Taking advantage of the high rates by taking time off while making a similar income can be the reset many drivers need to keep going. However, this current high freight rate period feels different. There is so much that is unprecedented & unpredictable happening within the nation & global economy, which makes this high freight rate season tough to predict. How much longer will it last? How far will rates drop once this surge is over? No one can confidently say… Below are a few of the trends and uncertainties we see going on today that make the duration of this high freight rate season specifically hard to forecast. This year’s unpredictability is why, as a business owner, you should consider running hard now while freight rates are high to position yourself successfully & give you more financial flexibility in case freight rates change suddenly. Pandemic & Political Policies: Regardless of your political preferences, Joe Biden has reportedly won the election to become the 46th President of the United States of America. As such, he brings with him a new plan for handling the pandemic and the possibility of another nationwide shutdown. This quote, taken directly from Joe Biden’s campaign website, helps to illustrate his strategies for tackling the pandemic & the possibility of another shutdown: Social distancing is not a lightswitch. It is a dial. Joe Biden will direct the CDC to provide specific evidence-based guidelines for how to turn the dial-up or down relative to the level of risk and degree of viral spread in a community, including when to open or close certain businesses, bars, restaurants, and other spaces; when to open or close schools, and what steps they need to take to make classrooms and facilities safe; appropriate restrictions on size of gatherings; when to issue stay-at-home restrictions. Many drivers during this year’s shutdown were severely impacted financially. You may recall that many manufacturers were delivering products at a slower rate or shut down entirely. With less freight available to ship and thus more drivers available to haul, the spot market rates were critically low during the early shutdown months (weeks 12-27 of this year, according to TruckStop.com Spot Market Insights). It’s possible this could occur again if the coronavirus infection rates continue to climb throughout the nation. There is also the possibility of a more long term recession if the virus continues to spread. For months, we have heard that a vaccine is coming, but the reality is no one can confidently say when the FDA will approve a vaccine or how fast manufacturers can produce the vaccine to immunize the entire country & globe. The coronavirus’s impact on employment and consumer spending cannot go without concern. In March, the U.S. government passed the CARES Act, which adopted policies like the PPP loans and extra unemployment benefits to stave off the first wave’s recession. However, we do not yet know if the policies will be enacted again or be as successful if the virus’s second wave continues to ramp up. Nor do we know for sure what the impact of these policies will be long term on the US economy. Below is an excerpt from a simulation analysis done by the Penn Wharton Budget Model regarding the short term and long term effects of the first wave’s CARES Act: The deficit-financed CARES Act provides a short-term boost to GDP as well as relief to families, workers, business owners, health care institutions, and governments affected by the pandemic. Moreover, the relief can be especially valuable to people who have lost their jobs and businesses that are no longer able to produce goods and services in this environment. Nonetheless, without fiscal policy to reduce the debt in future years, the CARES Act will result in a small but long-term decline in GDP as the additional debt crowds out private capital and lowers wages. The Holiday (Spending) Season: The next problematic factor to consider is the typical spending & time off around the holiday season. It’s a cliché at this point that every year people spend much more than they budgeted for on holiday gifts, travel, and treats. This extra spending is generally true for everyone during the holiday season, and speaking in generalities, our clients are no different. There is nothing inherently wrong with taking time off and treating your friends and family or yourself during this time of the year, but you must plan for it. With the typical slow freight season coming directly after the holiday season and the possibility of another shutdown, you must be prepared financially for the possibility of much lower rates on the horizon, especially when you factor in time off. Time off & extra spending means less revenue, continued payments on fixed costs, and a much tighter personal & business budget following the holidays. So what does this all mean? All of these unprecedented and unpredictable factors combined with yearly trends are why this year’s inflated freight rates must be taken advantage of while you can. The old saying “Make hay while the sun shines” rings more accurately than ever. Run hard now, while freight rates are high and freight is abundant, so you can set your business up to have enough cash flow to survive a freight recession if/when freight rates come back to earth.

Please note that ATBS does not offer health insurance plans. This guide is only meant to assist truck drivers who are researching health insurance options. As an owner-operator truck driver, your health is the most important thing when it comes to doing your job. If you become sick or injured, this could result in extended downtime as you may not be able to drive. While many company drivers are offered sick pay, owner-operators do not have this luxury. On top of this, not having health insurance could lead to additional costs in the long term. This is why truck drivers should consider the types of health insurance plans available to protect their future finances. If you have the right health insurance plan, it will go a long way toward ensuring that you get the affordable medical care you need quickly so you can get back on the road as soon as possible. Health Insurance Expenses Premiums As an independent contractor, you can seek a health insurance plan that offers individual or family coverage through the marketplace, a private insurer, or a trade association. When you sign up for a health insurance plan, you must pay your monthly premiums on time to keep your policy in effect. If you are late, your health coverage may be canceled. However, since you are self-employed, you can claim a 100% deduction of your health insurance premiums if your employed spouse doesn’t have access to company-offered insurance. If you have one or more employees who work for you, it might be possible for you to qualify for a small group coverage policy. The premiums you’ll pay for health insurance on behalf of your employees will be fully deductible. As an owner-operator, you are running your own small business, and the Affordable Care Act (ACA) defines a small business as a group of 50 or fewer full-time employees. Deductibles In general, the deductible refers to the amount of money an individual will be responsible to pay before significant health insurance benefits kick in. In general, the higher the deductible is the lower the monthly premium costs will be. Tax Tip - Use a health savings account (HSA) in combination with a high deductible health plan (HDHP) to save money tax-free. Grow the HSA balance by contributing frequently at hold a balance of at least your deductible. Think of this as a health escrow similar to your maintenance escrow. The HSA funds can be used to pay your deductible and other health-related costs. Bonus Tip - For 2022, the maximum contribution amounts are $3,650 for individuals and $7,300 for family coverage. If you're 55 or older, you can add up to $1,000 more as a "catch-up" contribution. HSAs have no use-it-or-lose-it provision. Any funds still in the plan at the end of the year can be rolled over indefinitely. People that are in good health may be more likely to choose this option. Copayments In general, individuals are responsible for paying for a portion of their health costs such as doctor visits or purchasing prescriptions. The amount paid by the individual will depend on the health insurance plan you choose. Coinsurance This is the percentage of the medical costs that you’ll have to pay after reaching your deductible and before reaching the max out-of-pocket amount. For example, if your plan offers an 80/20 policy, your insurance company will 80% while you’ll have to pay 20% of the cost incurred after you reach your deductible. Max out-of-pocket This is the total cost for an individual or family for medical costs. When medical costs, during the year, exceed the plan’s maximum out-of-pocket cost, the medical excess costs are covered by the insurance company. Insurance Options Federal or State Marketplace One option truck drivers have for health insurance is an individual or family plan through the Affordable Care Act (ACA). You can get these plans through government exchanges or through brokers. The federal government creates an “open enrollment period” where you may enroll for the first time or change your health insurance without a qualifying event. The open enrollment period typically runs from November 1st through December 15th each year. In most states, health insurance plans start on January 1st of the following year. These health plans are required to provide essential health benefits, cover pre-existing conditions, and have limits on deductibles, copayments, and out-of-pocket maximum amounts. These are policies that are similar to employer-sponsored insurance. It’s important to note that health insurance plans are typically available by the state and zip code in which you live. This is important to consider when dealing with health insurance as a truck driver because you’re constantly traveling. Some truckers travel over state lines which means their health insurance may not cover them if they need healthcare while on the road. You should also know that, depending on your income, you can get a subsidy to help afford your monthly health insurance premiums. When you apply for health insurance through the federal or state marketplace or exchange, you need to estimate your family income for the year. If your income is below a certain amount, you may be eligible to receive a subsidy to help you pay your monthly insurance premiums. At the end of the year, you need to calculate how much your household income actually turned out to be. If your income is above the amount you estimated, you may have to pay back some or all of the subsidized assistance you received back to the marketplace as part of your tax liability. These subsidies had been set to expire in 2023 but the Inflation Reduction Act has extended these subsidies through the end of 2025. Short-Term Health Insurance Plans Short-term health insurance plans are great for those who find ACA health insurance premiums unaffordable. This insurance helps provide an affordable health insurance coverage safety net for those who can’t afford individual or family insurance. It’s important to remember that short-term plans can deny you based on pre-existing conditions or can refuse to pay for medical conditions the policyholder had before the plan took effect. While these plans are cheap and can provide you with some health insurance coverage, they do not have the same comprehensive coverage as ACA-compliant plans. Though the benefits are not as robust as an ACA-compliant plan, Short Term Health Insurance can save you money in insurance premiums. These plans are recommended for drivers that are in relatively good health. If you are just getting started as an owner-operator, an affordable Short-Term Medical Policy may help control your costs. Organizational Insurance Through the Truckers Service Association (TSA) you can enroll in Independent Advantage Health Insurance Coverage. They have two options, Major Medical coverage, and Limited Medical coverage. Major Medical options are available for owner-operators through many of the nation's top major medical carriers. Limited Medical coverage is their lower-cost alternative that provides assistance with day-to-day medical expenses. Limited medical plans have an annual cap on the amount the insurer will pay for medical expenses and some benefits have a per-visit limit. Contact a TrueChoices advisor to learn more and enroll. Truckers also have the option to become members of the Owner-Operator Independent Drivers Association (OOIDA) and take advantage of their healthcare and life insurance for themselves and their families. There are several benefits of OOIDA health insurance. The medical benefits group offers different types of plans so that OOIDA health insurance costs can vary. There are, however, many discounts and rebates offered by their service providers, which will help to bring down OOIDA insurance payments. Another organization truckers can join is the National Independent Truckers Insurance Company (NITIC). They provide health insurance plans specifically designed for truck drivers. These can include protection in the case of damage or injuries caused by trucking accidents. Deductibles can vary according to location, your driving record, and the location of your company. Medsharing Plans Another option truck drivers have for health insurance is government-compliant medsharing plans. These plans are similar to traditional health insurance except your premiums are put into an escrow account. Apart from the Member’s Shared Responsibility Amount, claims are paid through the escrow account. Preventative care, doctor’s visits, and prescription discounts are all things you can expect to be included in a Medsharing plan. You can typically purchase coverage through these plans year-round. The best policy is one that strikes a balance among premiums, deductibles, and coverage that makes sense for the individual. So Should You Have Insurance as an Owner-Operator Truck Driver? Treat insurance as an investment in your financial well-being, not just your health. While the vast majority of uninsured U.S. adults cite high costs as the main reason for lacking coverage, out-of-pocket medical bills are the leading cause of American consumer bankruptcy. Of course, not paying for insurance can be less expensive in the short term, but uninsured people are just an illness or injury away from catastrophic health and financial consequences. Sources https://ratings.freightwaves.com/best-health-insurance-for-owner-operators/ https://www.forbes.com/advisor/health-insurance/best-health-insurance-for-self-employed-people/ https://www.ehealthinsurance.com/resources/individual-and-family/how-to-find-health-insurance-for-truck-drivers https://americanhealthplansinsurance.com/health-insurance-for-truck-drivers/ https://www.nonforceddispatch.com/healthcare-coverage-options-owner-operators/ https://www.warriorlogistics.com/health-insurance-for-truck-drivers/

Tax law is complicated and can be confusing. It can also be overwhelming to catch up on past-due tax liabilities when you’ve fallen behind. It can be a scary place to be. It's important to understand the difference between making an honest mistake and intentionally trying to deceive the Internal Revenue Service (“IRS”). In this article, we will explain the differences between tax fraud and tax negligence. We will help you understand the consequences of each and how to fix most problems with your taxes. Understanding Tax Fraud Avoidance of tax is not a criminal offense as taxpayers have the right to reduce, avoid, or minimize their tax liability by legitimate measures. A taxpayer who avoids tax does not conceal or misrepresent facts but they do shape or pre-plan events to reduce or eliminate tax liabilities within the rules of the law. On the other hand, tax fraud is a serious offense, characterized by deliberate actions to deceive the IRS and illegally minimize tax liabilities. When someone intentionally fails to report all of their income or knowingly claims false deductions and credits, they are committing tax fraud. This can involve a range of deceptive practices, including submitting a false tax return that misrepresents earnings or fabricating business expenses to reduce owed taxes. Commonly, tax fraud is identified through signs of willful evasion. For instance, concealing assets or engaging in complex schemes to hide income sources are clear indications of fraud. The IRS takes such matters seriously, which could lead to criminal investigations that can culminate in hefty civil penalties or criminal charges, including imprisonment. Individuals attempting to commit income tax fraud might willfully report less income than actually earned, claim personal expenses as business ones, or make false statements on their income tax returns. These deliberate attempts to undercut the tax system not only erode public trust but also defraud the government and law-abiding taxpayers. Therefore, persons accused of tax crimes may find it imperative to consult a tax attorney to navigate potential legal repercussions. Understanding Tax Negligence Tax negligence is often mistaken as a minor oversight, but the IRS takes any deviation from tax compliance seriously. It embodies any acts of carelessness or simple mistakes in filing tax returns—whether due to incorrectly reported income or overlooked deductions. Unlike tax fraud, these are not intentional acts meant to deceive the IRS but rather honest errors or the failure to make a reasonable attempt to fulfill tax obligations. Consider a few common scenarios: Forgetting to include some income on your tax return Claiming business expenses that are not fully substantiated Making mathematical errors in calculations on your tax forms Negligence in tax matters attracts civil penalties, and though not as grave as consequences for fraud, they can be costly. The typical accuracy-related penalty for negligence is about 20% of the underpayment that would have occurred with accurate filing, plus interest on the determined underpayment and associated penalty. Remember, if you're uncertain about your tax situation, consulting a tax expert can help you avoid unintended pitfalls. In the case of any errors discovered after filing, amending your return promptly can help mitigate any potential penalties for negligence. How to Catch Up on Taxes - Is There a Way Out? Yes - There is a way out! Instead of intentionally avoiding paying your taxes, hiding from the IRS, or underreporting your income, you can make a plan to get out of trouble when tax negligence has occurred. Falling behind on taxes can lead to serious consequences, but taking proactive steps can help you catch up and avoid further issues. Firstly, assess the situation; determine how many years you're behind and gather any necessary documentation, such as W-2s and 1099s. If you're not sure where to start, consider consulting a licensed tax professional, like those who are employed by ATBS, who can provide professional guidance tailored to your case. To catch up: File any delinquent returns immediately. The IRS generally requires the last six years of tax returns to be filed. Pay as much as you can when you file. This shows good faith and may reduce penalties. If you can't pay in full, explore payment options like an installment plan. Keep an eye on your mail for IRS notices and respond promptly. Maintain good records going forward to avoid recurring issues. By staying diligent and seeking help from qualified professionals, you can navigate the complexities of tax compliance and minimize the risk of tax negligence or the more serious consequences of tax evasion.

GOLDEN, COLO. – February 8, 2023 – ATBS, the nation’s largest tax, consulting, and bookkeeping firm in the transportation industry, announced a new partnership with InMotion Global, Inc., maker of AscendTMS, the world’s No. 1 rated and most popular TMS software. ATBS will provide AscendTMS customers with discounted pricing on services for owner-operator truck drivers. Owner-operators, drivers, and small fleets can access the ATBS RumbleStrip line of services through a secure client portal, which includes: RumbleStrip Essentials - Bookkeeping and tax services, including profit and loss statements, year-end federal and state tax returns, and unlimited access to tax questions. RumbleStrip Professional - Includes all RumbleStrip Essentials features, plus a deduction maximizer, estimated quarterly taxes, detailed business and personal budget plans, industry benchmarking, and unlimited tax and business consulting. RumbleStrip Enterprise - A complete back-office solution that includes most RumbleStrip Essentials and RumbleStrip Professional services as well as corporate tax returns, bank and credit card statement reconciliation, business incorporation, and unlimited tax, business, and payroll consulting. Payroll and entity formation services are also available to RumbleStrip Enterprise users for an additional fee. “With AscendTMS, we can now bring our comprehensive and convenient tax and accounting services to their large audience of small fleets,” said Todd Amen, President and CEO at ATBS. “We align so well together with our passion to deliver the best in class services to help small trucking companies. Our partnership will give our clients the opportunity to try the best in class TMS for free, while we are able to deliver the best trucking back office services to help their existing client base.” Tim Higham, CEO at Ascend TMS, stated; “ATBS and AscendTMS can now provide any sized carrier with the resources, skills, technology, and live business advice to help them grow, increase their profits, and reduce their costs. Many small carriers dream of becoming bigger carriers and becoming more profitable, and this partnership between two leading and proven solutions gets them there fast. Carriers love it. They get live friendly trucking business experts on the phone that can answer almost any business, tax, or bookkeeping question for them. They’ll even benchmark their rates and costs against the entire market to let them know where they stand and how they can get better. ATBS is an amazing service for any carrier looking to grow and prosper.” AscendTMS customers can find more information about the discounts by visiting www.atbs.com/ascendtms. About ATBS: American Truck Business Services (ATBS) is the largest tax, consulting, and bookkeeping firm in the transportation industry, with 25 years of experience working with owner-operators and independent contractors. Since 1998, ATBS has helped over 150,000 clients earn more money, reduce stress, and drive a richer life. For more information, visit www.ATBS.com. About InMotion: Global InMotion Global, Inc. provides the free, award-winning, patent-pending Transportation Management System, AscendTMS®, to freight shippers, freight brokers, and trucking companies. AscendTMS® is used by thousands of companies in over 30 countries, from small single-person logistics operations to multibillion-dollar international corporations and can manage any logistics operation. AscendTMS® is the world’s leading cloud software by Crowd based TMS software, and ranked as the number one TMS Reviews, Capterra, and Software Advice (a Gartner company). InMotion Global, Inc. is headquartered in Brandon, Florida. Learn more at www.TheFreeTMS.com or at www.InMotionGlobal.com.

Stress is something in life that is almost always unavoidable, especially in the trucking industry where unpredictability is a common theme. Truckers are constantly fighting bad weather, distracted drivers, dealing with difficult shipping and receiving personnel as well as unrealistic deadlines, all of which cause some truck driver stress. Not only does stress cause the calmest person to become impatient and frustrated, but also affects your body and the way it functions! Stress is your body’s way of dealing with any change that requires a response. Stress becomes a negative thing when while facing constant daily challenges, you don’t take time to relax and unwind. Stress can have a tremendous effect on your body and you might not even realize it. Here are a few of the most common symptoms of stress: Headaches Upset stomach Elevated blood pressure Chest pain & shortness of breath Sleeping problems Fatigue Anxiety and depression If you are currently battling an illness or have a pre-existing condition then stress can make the situation even worse. Besides getting extra rest, exercise is one of the most important things you can do to help reduce and manage your stress levels. Any exercise ranging from high-impact cardio to yoga can help you reduce the negative effect stress has on your body. Here are some ways in which regular physical activity helps reduce the effects of stress It pumps up the production of endorphins, your brain’s “feel good” neurotransmitters. This is often referred to as the “runners high”. It gives you a better outlook on managing your circumstances and helps you forget the day’s minor frustrations. It improves your overall mood, self-confidence, and sense of well-being. It helps lower symptoms associated with mild depression and anxiety. It improves your quality of sleep. There is no question that adding physical activity to your daily routine is a plus. Along with helping to relieve and manage stress, you will have more energy, self-confidence, feel stronger, and have a more positive attitude. Here are a few suggestions to help you get started Always consult your doctor before starting an exercise routine. Build up your fitness level gradually. You don’t want to overdo it and hurt yourself. Do something you enjoy like running, swimming, biking, weight training, or yoga. If you like what you’re doing, you have a better chance of sticking to it for the long haul. Make the time. This is a hard one, especially in the trucking industry. As I said before, if you have to break your exercise time into smaller intervals to fit them in, then do it! Stick with it. Some tools to help you stick with a routine are setting goals for yourself, connecting with friends to help motivate each other, and changing up your workouts to keep it interesting. I hope these tips help you to have a better understanding of how stress affects your body and the benefits of incorporating physical activity into your daily routine. As always, keep the shiny side up and the rubber side down and make healthy choices! Author: Derek McClain. This article was originally featured on The Healthy Trucker. Image source 1 (and thumbnail): https://www.flickr.com/photos/senoranderson/ Image source 2: https://www.flickr.com/photos/michaelloudon/

Being an Over-the-Road (OTR) trucker is a profession that is both crucial and challenging. It involves extended periods on the highways, transporting goods across state lines, and even international boundaries. Knowing the job requirements, government regulations and licensing, keeping up with physical fitness, and managing life on the road, are all vital aspects to be aware of when considering a career in this field. In this guide, we’ll look at the differences between OTR, regional, and local trucking. We’ll also weigh the pros and cons, look at the potential earnings, and offer insights on how to thrive as an OTR trucker. Whether you're contemplating this career path or simply fascinated by the lives of those who drive, this guide can serve as your comprehensive roadmap. What is Over-the-Road Trucking? OTR trucking is a critical component of the logistics industry, involving the transportation of goods across long distances—usually spanning multiple states or even the entire nation. Key Points of OTR Trucking: Extended Travel: OTR drivers may be on the road for weeks at a time, far from home. Equipment: They typically operate semis or tractor-trailers, designed for heavy-duty long-haul jobs. Supply Chain Role: These truckers are integral to maintaining the flow of goods across broad areas, and keeping commerce moving. OTR trucking demands a high level of commitment and adaptability, as drivers acclimate to life on the road in their sleeper cabs. The job's requirements include navigating prolonged stretches of driving while adhering to regulations regarding hours of service to ensure safety. Given the significance of their role, OTR truck drivers are essential in bridging the gaps in the supply chain and remaining dedicated to transporting various types of freight reliably. OTR Trucking Job Requirements OTR truckers require a special type of job commitment and background, starting primarily with obtaining a Commercial Driver’s License (CDL). Here's a quick rundown of job requirements for aspiring OTR drivers: CDL: The first step to becoming an OTR truck driver is earning your commercial driver’s license or CDL. Without one, you won’t be able to legally operate large and heavy vehicles in commerce. Clean Driving Record: A record clear of serious traffic violations builds trust and reliability. Physical Health: Passing a DOT physical examination ensures that drivers are fit for extended periods on the road. Education: It’s recommended, but not required to have either a high school diploma or a GED. Advancement Opportunities: Further Certifications: This can lead to enhanced roles and better earnings. Experience: Time spent on the road can pave the way for promotion within the industry. OTR truck drivers are in high demand, which means this position offers both stability and opportunities for growth for those who choose to pursue this career. OTR vs. Regional vs. Local OTR drivers embark on extended trips that can span across the country, often requiring them to spend weeks at a time on the road. This type of truck driving can lead to prolonged periods of solitude and is best suited for those who enjoy traveling and are comfortable with extended periods away from home. Comparatively, regional trucking strikes a balance, with regional drivers covering specific geographic areas. They have the advantage of more regular home time, typically returning each weekend, making it a more family-friendly option for many. On the shorter end of the spectrum lies local trucking. Local routes keep drivers close to their home base, operating typically within a 200-mile radius. This type of driving allows drivers the convenience of being home every night, which can be a significant factor for those who value daily family time or have personal commitments. Here's a quick breakdown: Choosing the right type of trucking job depends on personal preferences related to travel, time away from home, and work-life balance. Pros and Cons of Over-the-Road Trucking OTR truck drivers, often seen as the backbone of the trucking industry, are tasked with transporting a diverse array of goods across vast distances. This type of job not only provides travel opportunities, allowing drivers to venture into new regions and experience the vastness of the country, but it also offers a sense of independence that is hard to find in other careers. Despite its appeal, OTR trucking comes with its set of challenges. Drivers typically spend extended periods on the road, which can lead to significant time away from family and loved ones, as well as an increased risk of health issues. Adapting to different time zones, braving a variety of weather conditions, and navigating unfamiliar roads that are often in poor condition are some of the daily hurdles that OTR drivers face. The life of an OTR truck driver is one of constant movement and change, demanding a resilient and adaptable personality to manage the demands of long-haul trucking. Here's a quick overview of the pros and cons: OTR Trucker Salary Ranges As OTR trucking continues to be an essential part of the logistics chain, understanding the compensation for those behind the wheel is crucial. OTR drivers are tasked with significant responsibility and their pay reflects the demanding nature of the job when compared to other trucking jobs. According to PayScale, OTR truck drivers earn an average annual salary of $62,980, with a typical range from $41,000 to $89,000. However, salaries can vary widely based on factors such as experience, type of freight, and individual carrier rates. How to Be a Successful OTR Trucker Being a successful OTR trucker requires a blend of personal traits and professional skills that contribute to an individual’s adaptability and resilience on long-haul routes. OTR trucking isn't just a job; it's a lifestyle that demands a specific mindset. Here are key attributes essential for OTR drivers: Love for solitude: With extended periods on the road, enjoying one's own company is vital. OTR trucking suits those who value independence and quiet, reflective time. Appreciation for travel: A successful OTR driver relishes the chance to explore different regions, embracing the diversity of sites and experiences. Resilience: The road can be unpredictable. Whether it's handling unexpected delays or managing life away from home, resilience keeps an OTR driver focused and calm. Flexibility: Routes and schedules can change. Adapting quickly without getting flustered is crucial for timely deliveries. Skillset: Maneuvering a large vehicle safely requires more than a clean driving record. Experience, continual learning, and proficiency in handling various types of freight are indispensable. A successful career in OTR trucking means merging these qualities with a passion for the road. The reward is not only the freedom of the open highway but also the satisfaction of being part of the essential structure of the trucking industry.

Credit card fraud has drastically increased over the past few years. This means it's more important than ever to protect your personal information. Here are five ways to help you spend safely and guard your sensitive data. Review your spending history One of the most important things that you can do as a consumer is to proactively monitor your accounts. Each month when your statements arrive go through them item by item. If you see anything that doesn’t look right then you should call your credit card company or bank immediately. We suggest setting up usage alerts on your credit card. Each time your credit card is used you will be notified. Consider a contactless card Contactless cards show an image of four curved lines somewhere on the card. You can tap the card over a sensor when you go to pay instead of inserting the chip into a reader. Rather than giving the merchant your credit card number, the card sends a one-time code—just like the chip. Use mobile payments Most smart devices have a digital wallet. You add your credit or debit card information and then you can use your smart device to pay when retailers offer the option. Digital wallets work by transmitting a unique, random transaction number to the merchant instead of your card number. Alert the card issuer Credit card issuers offer zero-liability fraud protection. This means if a transaction appears on your account that you didn't make, you can alert the card issuer and follow their process for reporting the crime. You won't have to pay for purchases you didn't make. Request a new card If you find out that your card's information has been compromised, then you may need to request a new card. This means that the information the hacker might have received will be useless to them. By using these tips you can do your best to keep your money and your information safe.

FMCSA Medical regulations require certain health standards to be met to get and keep a commercial driver’s license. These regulations include health of body, mind, and alertness. When you’re on the road, it’s helpful to have tools right at your fingertips that can help you stay healthy and make good choices. Being healthy isn’t just about what you eat, or how much you move - it’s about whole body wellness! At ATBS, we compiled a list of 8 get-healthy apps that address everything from sleep to memory strength and mental health. Lumosity Train your brain by developing memory and attention with Lumosity. This app was developed by scientists who studied common neuropsychological tasks and then transformed them into fun and challenging games. In layman’s terms: Play games. Get smarter. This app is used by over 50 million people worldwide and creates a personalized training program to challenge your brain. Click here for more information Sleep Cycle Waking up to an alarm clock that jolts you awake from deep sleep will make you grumpy the rest of the day. Sleep Cycle tracks your movements as you sleep – gauging when you transition between light sleep and deep sleep. The alarm clock will wake you when your phone determines you’re in your lightest sleep cycle during a preset 30-minute wake-up window. Click here for more information PTSD Coach This app is specially tailored for veterans and service members to help PTSD sufferers gain control over their anger or stress. Just hit the “manage my stress” button, input what’s wrong, and level of distress on a 0-10 scale. It’s designed to respond with something to help you through that moment – whether with a relaxation exercise, music, or positive images. Click here for more information Glooko If you have diabetes, this app is for you! Glooko makes diabetes management easier, by taking data from your meter to help monitor your glucose levels. It also enables you to share readings with your healthcare provider. Click here for more information Stay Quit Coach Nothing will move you more quickly towards health than taking the step to quitting smoking. No matter how many times you’ve tried, it’s worth the effort! This app can help you keep your cravings in check and helps tailor a personal success plan in giving up cigarettes. With constant support and inspirational messages, this will help you kick that habit for good! Click here for more information Calm Whether you have 60 seconds or 60 minutes, Calm can help you build a habit of mindfulness. Immerse yourself in Calm's soothing music and sounds made for sleep, focus, and relaxation. Click here for more information Fooducate People are always saying to make healthier choices, but the nutritional information on food labels isn’t exactly the easiest thing to read and understand. This app lets you scan the barcode of a product or type in its name (or a kind of food, like “apple”) to uncover its total calories, fat, sodium, and other ingredients. It even scores the food for healthiness! This is also a great tool to find unhealthy foods amongst those claiming to be healthy, as sometimes the seemingly “good foods” can be packed with unwanted calories. Click here for more information Rolling Strong This app is specially designed for the health and wellness for professional drivers around the United States. It accesses your health database on the road to find important clinic locations, health check stations, and coaching sessions. It includes wellness newsletters, special events, and even a built-in pedometer! Click here for more information